RIPEC warns against taxing high earners and businesses, reports mixed economic news for the Ocean State, and joins a call to reform the state’s funding formula for education this month
RIPEC on Public Policy
- RIPEC President and CEO Michael DiBiase and Greater Providence Chamber of Commerce President and CEO Laurie White published an op-ed in the Providence Journal warning against proposals to sharply increase income taxes on high earners. They noted that the tax would do nothing to address runaway state spending and would hurt small businesses.
- RIPEC and the Center for Regional and Economic Studies at Bryant University released the Q3 2025 Key Performance Indicators (KPI) Briefing, which found that Rhode Island’s economic signals were mixed, reflecting stability amid slower underlying growth. The state’s unemployment rate fell for the first time in over two years to 4.6 percent, and resident employment also reversed its recent negative trajectory, while the number of Rhode Island-based j0bs declined.
- Providence Business News, “RIPEC: R.I. not in recession despite mixed economic signals in Q3”
- Michael DiBiase spoke to several news outlets ahead of the 2026 legislative session. He highlighted RIPEC research demonstrating the negative consequences of sharply increasing taxes on high earners, noting that the policy would “undermine Rhode Island’s already weak competitive position,” and urging the General Assembly to exercise more spending discipline.
- Providence Journal, “The 2026 legislative session starts on Jan. 6. Here’s what to expect this year”
- Providence Business News, “Minding the Gap: Deficit projection narrows, but fiscal risk factors loom over General Assembly session”
- Ocean State Media, “Rhode Island General Assembly set to begin a new session”
- WPRO 99.7, “Mike DiBiase with Jim Hummel”
- A 2023 op-ed by Michael DiBiase calling for reforms to the state’s funding formula for K-12 education was highlighted in a Boston Globe article on a new report from the Blue Ribbon Commission convened by the Rhode Island Foundation and Brown University’s Annenberg Institute. The Commission, which included RIPEC as a member, calls for major reforms to address the inequities of the current formula by more clearly identifying the true cost of educating students, providing stronger local funding requirements, and establishing greater accountability.
Inside Insights
- The Tax Foundation highlighted working research that provides evidence remote workers favor lower income taxes more than lower property taxes when making relocation decisions.
- A new report from RIHousing reveals that the statutory eight percent gross rental income tax rate for affordable housing remains significantly underutilized across the state. While intended to provide predictable operating costs for developers, utilization is highly concentrated in just four municipalities—Providence, Warwick, West Warwick, and Woonsocket—with six municipalities reporting zero properties under the program.
- Following a reporting gap caused by the federal government shutdown in October, the Rhode Island Department of Labor and Training released figures showing that Rhode Island-based jobs rose by 200 in November, reaching a near-record high of 516,600. The state’s unemployment rate dropped to 4.3 percent, down from 4.6 percent in September. In contrast, U.S. unemployment increased from 4.4 percent to 4.6 percent—making the first time in two years Rhode Island has posted a lower monthly rate than the nation.